Surprise Move Sends Singapore Dollar to Lowest Level in Over Four Years

SINGAPORE—The Monetary Authority of Singapore said it would slow the Singapore dollar’s rise against a basket of currencies, making the city state the latest country to ease monetary policy as inflation slows across much of the world and growth prospects dim.

Slowing growth in China, lower inflation in the eurozone and a backdrop of plummeting crude oil prices have added to global jitters, pushing central banks from Canada to India and Turkey to cut interest rates this year to boost their economies. Last week, the European...